The Taxify by Sovos team had a blast at the Magento Imagine show last week! If you were one of the many folks who stopped by our booth to chat with us, we appreciate it and we look forward to staying in touch.
But we didn’t just attend Imagine for the chit-chat: We also went to learn about the state of the eCommerce channel, about Magento sellers’ challenges and opportunities, and how disruptive technologies are changing the future of eCommerce. Here’s what we took away, as well as some guidance for sellers on sales tax:
The South Dakota v. Wayfair case is top-of-mind for eCommerce sellers.
Our team spent quite a bit of time answering questions and having long discussions about the potential impact of the impending South Dakota v. Wayfair case. We put together a primer on the case for eCommerce businesses last week. The shorter synopsis is that the landmark Quill decision of 1992 will be challenged at the Supreme Court level, opening the door for states to begin imposing sales tax obligations on remote sellers with a certain amount of sales into or inventory stored within their borders.
Right now, it’s unclear what the SCOTUS will determine, but eCommerce businesses should be prepared to handle the fallout either way. Check out our on-demand recording of tax and regulatory guru Chuck Maniace’s live interview for answers to an array of questions on the subject. Stay tuned over the coming weeks and months, as we’ll unpack any emerging developments in this ongoing story and identify the business impacts.
Sovos and Magento: A match made in sales tax heaven.
If you’re a Magento seller and you’ve followed South Dakota v. Wayfair over the past few months, you know you could soon have additional sales tax obligations and complications. Fortunately, there’s some good news: Sovos recently partnered with Magento to introduce an extension that will make sales and use tax filing a breeze.
Sovos for Magento is the scalable sales tax solution for Magento sellers of all sizes. Leaner eCommerce businesses can take advantage of Taxify by Sovos’ accurate rates and forms to automate their filing processes, while enterprises with more complex transactions can use Sovos Global Tax Determination for the most complete, end-to-end solution on the market.
One Sovos. One comprehensive solution for all your compliance needs.
Sovos offers scalable and adaptive tax compliance and business-to-government reporting solutions for businesses of all sizes. All of our solutions are backed by 35 years of compliance leadership and flexible product taxability. Our rates are accurate down to the rooftop level, bolstered by our extensive team of tax experts.
In addition to sales and use tax filing for U.S. businesses, Sovos offers numerous B2G reporting solutions to help organizations – both global and domestic – tackle compliance for VAT, eInvoicing, and certificate management. As governments and local jurisdictions around the world apply new technology to crack down on businesses, Sovos is an ally to help you weather the storm. Explore the full Sovos suite of solutions for your various compliance needs here.
Find out how Sovos for Magento can help your business stay on top of new regulatory updates and complex transactional requirements.